Assets Account

Context:
- It can (typically) be composed of Assets Sub-Accounts, such as a cash account, accounts receivable account, accrued tax account, investments account, ...
- It can (often) be reported in a Balance Sheet Statement.
- It can range from being a Current Assets Account to being a Non-Current Assets Account.
- …
Example(s):
- ABC Newstand's Assets Account.
- City of Pocatello's Assets Account (e.g. in a City of Pocatello's statement of net assets September 30, 1011)
- one from State of Georgia's Uniform CoA, such as:
  - 110 | Cash — Petty Cash
  - 120.40 | Unamortized Premiums on Investments.
- …
Counter-Example(s):
- a Liabilities Account.
- an Expenditures Account.
- a Revenues Account.
- a Funds Account.
See: Chart of Accounts.

References

http://www.businessdictionary.com/definition/asset-account.html
- QUOTE: The net value held by a business of such things as liquid funds, investments, accounts receivable, unsold inventory, real estate, machinery and valuable intangibles. Each of those item categories can be summed up for a business to create its own asset account. Current asset accounts contain assets held for less than one year, while long term asset accounts contain those held for more than one year.

http://www.accountingcoach.com/bookkeeping/explanation/6
- … The asset accounts are usually listed first in the company's chart of accounts and in the general ledger. In the general ledger the asset accounts will normally have debit balances.
  The balances in some of the asset accounts will be combined and presented as a single amount when the balance sheet is prepared. For example, if a company has ten checking accounts, the balances will be combined and the total amount will be reported on the balance sheet as the asset Cash.
  Assets include the things or resources that a company owns, that were acquired in a transaction, and have a future value that can be measured. Assets also include some costs that are prepaid or deferred and will become expenses as the costs are used up over time.